Evercore Cuts Bank of America (NYSE:BAC) Price Target to $55.00

Bank of America (NYSE:BAC) had its target price reduced by Evercore from $59.00 to $55.00 in a research note issued to investors on Monday morning,MarketScreener reports. They currently have an outperform rating on the financial services provider’s stock.

BAC has been the topic of several other research reports. Barclays boosted their target price on Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Wolfe Research downgraded shares of Bank of America from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Wells Fargo & Company lifted their price target on shares of Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Morgan Stanley cut their price target on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Finally, Erste Group Bank cut Bank of America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and an average target price of $59.10.

Bank of America Stock Performance

BAC opened at $51.91 on Monday. The business’s 50-day moving average price is $50.61 and its two-hundred day moving average price is $52.19. Bank of America has a 1 year low of $33.06 and a 1 year high of $57.55. The company has a market capitalization of $370.90 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 1.20 and a beta of 1.23. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. Equities analysts expect that Bank of America will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. Bank of America’s payout ratio is currently 29.24%.

Insider Activity at Bank of America

In related news, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the sale, the insider owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the sale, the insider directly owned 307,240 shares in the company, valued at approximately $15,362,000. This represents a 21.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 227,832 shares of company stock valued at $11,094,960. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Bank of America

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Bank of America by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock worth $35,809,225,000 after buying an additional 23,351,183 shares during the last quarter. Capital World Investors increased its position in Bank of America by 11.0% during the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock worth $7,448,816,000 after buying an additional 14,275,810 shares during the last quarter. Norges Bank acquired a new position in Bank of America during the fourth quarter worth approximately $4,774,210,000. Bank of New York Mellon Corp increased its position in Bank of America by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock worth $3,169,062,000 after buying an additional 2,929,779 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Bank of America by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock worth $2,958,110,000 after buying an additional 1,105,833 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America News Summary

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Regulatory draft could free capital — Analysts estimate U.S. banks might be able to release up to ~$320 billion under proposed draft rules, which would meaningfully boost capital available for buybacks/dividends and improve return metrics for big banks like BAC. US banks could release $320 billion…
• Positive Sentiment: Momentum: BAC has extended a multi-session winning streak, reflecting improving investor sentiment ahead of earnings and helping lift the stock. Bank of America extends winning streak…
• Positive Sentiment: Product traction: CashPro app usage rose ~20% and clients are authorizing large payment flows in real time — a sign of fee-generating commercial client engagement and digital product strength. CashPro App Usage Rises 20%…
• Positive Sentiment: Analyst upgrades / research credibility: HSBC recently upgraded BAC to Buy (PT $55) and other research activity highlights BofA’s role as a prominent sell‑side shop — supporting investor confidence. A Downgraded Target for Bank of America…
• Neutral Sentiment: Capital/debt action: BAC announced the redemption of $3.0B of 3.559% senior notes due April 2027 — straightforward liability management that modestly alters the debt schedule but is not a surprise. Bank of America Announces Redemption…
• Neutral Sentiment: Estimates and research: Erste Group nudged up FY2026/FY2027 EPS estimates for BAC — small upward revisions that support fundamentals heading into Q1 results (reporting April 15). Erste Group raises EPS estimates…
• Negative Sentiment: Mixed/trimmed price targets: Several banks (UBS, JPMorgan, Daiwa, Truist) have trimmed price targets recently (though many kept buy/overweight ratings), which can cap upside and increase short-term volatility. UBS adjusts price target on Bank of America…
• Negative Sentiment: Conflicting forecasts: Some outlets and firms issued pessimistic near‑term forecasts for BAC, adding noise to the tape and pressuring sentiment despite other supportive signals. Autonomous Res issues pessimistic forecast…

About Bank of America

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.